Author Topic: Daily Crypto Nooooooz  (Read 148916 times)

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #390 on: February 18, 2018, 08:02:57 am »
https://news.bitcoin.com/crypto-trading-2018-new-strategies-bigger-crowds-diminishing-returns/

GRS will succeed in the long-term because this is not us. Those newcomers who don't give up will begin to differentiate the fast-and-flimsy projects from the solid projects.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #391 on: February 19, 2018, 05:07:51 am »
Volatility: Big Lies Are The Best Lies

'In other words, it’s becoming not just more volatile, the whole underlying structure of our economy is destabilizing.  What I mean by that is it’s becoming more brittle or fragile.  That is fundamentally why we are seeing these wild swings.'

https://www.zerohedge.com/news/2018-02-18/charles-hugh-smith-fears-catastrophic-drop-financial-markets-definitely


I'm pleased: got this one right years ago: we're gonna see wilder and wilder swings in everything as the system disintegrates.

Check this: http://www.macrotrends.net/1369/crude-oil-price-history-chart

Although the huge shifts happened slower than, say, Bitconnect's collapse, they were huge swings. The argument that cryptos are useless because they're volatile has always been a weak one, and it is getting weaker.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #392 on: February 20, 2018, 09:06:08 am »
'Nigerians Trade $4 Million in Bitcoin Weekly, despite Warnings'           

https://news.bitcoin.com/nigerians-trade-4-million-in-bitcoin-weekly-despite-warnings/

Good read. Shows the relationship between What-Goes-on-in-Bankers'-and-Bureaucrats'-Minds versus what goes on in the real world (in which folks are running out of patience with bankers and bureaucrats . . . ).

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #393 on: February 21, 2018, 02:57:37 am »
'The Opec cartel is to forge a permanent alliance with a Russia-led bloc of producers by the end of the year, aiming to regain control of the world crude market with a super-combine of unprecedented scale and reach.'

http://www.telegraph.co.uk/business/2018/02/20/oils-super-cartel-born-opec-russia-prepare-knot-us-shale-still/


What does this have to do with cryptos?


Well, when you buy your first crypto, you enter the world of The Theory of Money.

The U.S. dollar has been the global reserve currency since the Second World War, particularly in respect of trading oil. And the U.S. can bully nations by refusing to let them buy stuff with dollars -- stuff like oil. And this Russian-OPEC agreement is part of an historic movement away from trading in U.S. dollars -- check this:
https://www.cnbc.com/2017/10/11/china-will-compel-saudi-arabia-to-trade-oil-in-yuan--and-thats-going-to-affect-the-us-dollar.html

Now check this: 'an arcane new financial product — one that could presage a huge shift in global energy markets and advance China’s quest to play a bigger role in the global economy.'

http://foreignpolicy.com/2018/01/18/chinas-bid-upend-global-oil-market-petroyuan-shanghai/


So, on one side, the half-Trillion-market-cap terrier of cryptos has its teeth sunk into the calf of Mr. U.S., but on the other side, a wolf is tearing his arm out of its socket.

Now think about how stock markets functioned historically: you were rich, and you could trade stocks (in U.S. dollars?); or you weren't, and you couldn't. But NOW, schoolkids are trading these 'cryptos' on their smartphones during little lunch.

Watch for the collapse of the Eurozone, campers -- the death of the Euro.
« Last Edit: February 21, 2018, 03:09:50 am by indiamikezulu »

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #394 on: February 23, 2018, 01:31:22 am »
Thinking about Exchanges

‘I'm using Kraken for a very long time and never had any issue, but it's true that their support is very slow to answer (like a month or so for complex questions).
You just have to be patient and they'll find where your money went.’

https://www.reddit.com/r/CryptoCurrency/comments/7zdwol/24k_stolen_by_krakencom/



Firstly, the political term ‘co-option’ – soooo useful at present. ‘Co-option’ is when something good and new comes along, then the bad old guys get their claws into it, push it out of view, weaken it, take it over.

I’ve reviewed four exchanges since December: two centralised and two decentralised. Didn’t like any of them (though I do have high standards).

The decentralised exchanges are probably going to be as bad as the centralised exchanges. They are merely the next phase of the co-option.
What can we do about it? That’s a post for another day. But it’s clear that many crypto geeks think that the dexchanges will lead us to bright sunlit uplands. But I fear: nuh.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #395 on: February 24, 2018, 08:05:23 am »
'Striking the right balance is not always easy though. In 2008 the Fed was preoccupied with inflation, while subprime mortgage products built up excessive leverage in bank balance sheets, provoking systemic problems in markets that lead to the worst global recession since the 1930s.'

https://www.reuters.com/article/us-usa-stocks-weekahead/markets-fret-over-federal-reserves-approach-under-new-chair-powell-idUSKCN1G729Z


'The pilot was pre-occupied with making coffee when the plane ploughed into a mountain, killing all aboard.'


Debt has to be repaid -- or maybe not.

QE was going to be a brief and unsavoury experience in just one country, but it has gone on and on in countries all over the world.

Really high levels of debt must be avoided -- except if everyone has them, then . . . everyone has them but you just don't talk about it!

After QE must come rises in interest rates -- or not . . . let's wait and see.


These guys have no idea what they're doing. So, 2018 -- with a new apparatchik at the helm of the US Fed Reserve -- will be sooooo interesting to watch. Articles suggest four or even five interest-rate rises.

Really?
« Last Edit: February 24, 2018, 08:09:43 am by indiamikezulu »

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #396 on: February 25, 2018, 03:27:33 am »
"If the government wants to introduce some control on operations done via crypto on its territory, it does make a lot of sense to issue its own cryptocurrency," he said.

https://www.coindesk.com/venezuelas-citizens-worry-national-cryptocurrency/

'Crypto' has both a technical and a political definition. Politically, it signals two things: non-governmental and anti-inflationary.

So the Petro is really an 'e-fiat': a form of (non-gold-backed) government currency that has a solely electronic form rather than a partially electronic form. It's a wolf in sheep's clothing. It's a red herring.

But it will fool some folks. But not for long.

Then will come the interesting part: will ordinary folks actually find it easier to get to real cryptos because they already have some experience of a fake crypto? Watch this space!!

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #397 on: February 26, 2018, 12:49:54 pm »
'Koinex ( Indian crypto exchange ) just surpasses binance in REQ 24hours trade volume'     

https://www.reddit.com/r/CryptoCurrency/comments/805388/koinex_indian_crypto_exchange_just_surpasses/

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #398 on: February 28, 2018, 07:56:45 am »
https://www.ethnews.com/poloniex-cryptocurrency-exchange-purchased-by-goldman-sachs-backed-circle


Just a reminder of the 'Three Ways':

One: everyone becomes tax compliant/cryptos are 'co-opted' by the legacy system. 'Co-opted' means 'absorbed.'

Two: dexchanges provide a (sufficient?) platform for anonymous trading.

Three: a culture of grass-roots p2p grows as the economy worsens.


And there are four players: the first is people. The second is instutions. The third is regulatory bodies. The last is the GFC.

I have no doubt that, at any time in the last decade, if the GFC had become again as bad a problem as it was in 2009, cryptos would have run beyond the ability of governments to control them: their value as currencies would have become clear.

At present, though, the greater involvement of institutions, and the lesser interest of 'the unbanked,' has given 'safe-haven function' the upper hand. Circumstances have put the focus on cryptos as speculative-trading instruments.

And things will continue this way for a while, until economic problems bring p2p back into play.

« Last Edit: February 28, 2018, 11:20:01 am by indiamikezulu »

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #399 on: March 01, 2018, 06:50:14 am »
'China's National Internet Finance Association, a self-regulatory organization under the PBoC . . . '

https://www.coindesk.com/chinese-police-extend-crypto-exchange-monitoring-overseas/

Self-regulatory organisation 'under' the People's Bank of The Communist Dictatorship of China . . .

Gee. Wow.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #400 on: March 02, 2018, 07:24:00 am »
The Proliferation of Types of Exchanges

In the beginning, there were no exchanges: geeks met in cafes, and p2p-ed from laptop to laptop.

Then suddenly there were (centralised) exchanges. Their numbers proliferated rapidly.
But they were all basically the same type of exchange: Bitcoin-altcoin trading-pairs.
Some did provide fiat-Bitcoin facilities; but my point remains: these exchanges were all quite similar.

Then the first decentralised exchanges were launched; but although we talked about their importance, we stuck to the centralised exchanges, where the real-time nature of the trading facilitated great profits.

But the events of 2017 sparked The Big Government Push-Back, and suddenly dexchanges began to attract interest, and more sprang into existence (and they exhibited the same sloppy structures, and arrogant protect-our-corporatist-arses attitude, that the centralised exchanges had assumed).

Lately though, we have entered a new phase. The types of exchanges has begun to increase. Ethfinex is coming. Bitcoin Futures began to be traded on Wall Street. A legacy bank is going to turn itself inside out, and become a ‘crypto-first’ institution. Livecoin looks like it’s gonna quietly allow a section of its clientele to operate without verification (but without customer support . . . ) -- ? Bitfinex has an OTC arena, and is also systematically weeding out the small players. Poloniex is gonna be something something under the thumb of Circle/Goldman Sachs. Robinhood, I understand, is both mobile and fees-free.

Anyone heard the term ‘unbanked’ recently? No, me neither.

Safe-haven function has the upper hand, and will have for some time.

And down the track? I’d like to see GRS launch a merchant-adoption-and-support exchange, which would incorporate an ‘e-mall’ were you could buy stuff with cryptos. We theorized this at length in 2015.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #401 on: March 03, 2018, 04:46:18 am »
http://bitcoinpr.com.au/boe-governor-mark-carney-crypto-ecosystem-should-be-held-to-same-standards/


Imagine Mr. Government saying, 'It could be a problem that the sun rises in the east; but instead of banning that, we're going to regulate instead.'

That is, the notion that the Government isn't going to 'ban [cryptos] outright' suggests that they could ban them outright. The word you're looking for here is 'disingenous' -- it's a synonym for 'dishonest.'



'According to Carney, cryptocurrencies do not threaten “financial stability” at the moment, but they could after more consumers get involved.'

Ummm . . . okay. So . . . not a bad thing now, but a bad thing later?  Which is exactly what 'threaten' means!

Carney is an ex-Goldman-Sachs flunky of the worst sort, a mouthpiece, an apparatchik. The sooner we dispense of him/his system, the better off we'll all be.






Offline indiamikezulu

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Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #403 on: March 05, 2018, 02:28:09 am »
'The Economist Intelligence Unit 'scores' the greatest global risk right now is a "prolonged fall in major stock markets." '

Ummm . . . yep.


'[The] favourable economic picture appears to come from a completely different world to the one where headlines are dominated by protectionist rhetoric, major territorial disputes, terrorism, surging cyber-crime and even the threat of nuclear war.'

Ummm . . . yep.

Offline indiamikezulu

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Re: Daily Crypto Nooooooz
« Reply #404 on: March 06, 2018, 01:46:39 am »
'I was able to buy things at yard sales with [GRS] the other day.'   

"More detail on the yard sale? My outfit luuurvs p2p"

'Literally asked if he'd accept the same value in cryptocurrency. Said yes I told him to download the mobile GRS App and made the payment and he was satisfied when it told him it was worth the sane ammt in dollars.'             

https://www.reddit.com/r/groestlcoin/comments/81ympl/still_my_favorite_coin/

 

anything